Is this another farce by possibly an illegimate Board, page-15

I totally agree that it is a very risky sector and that is why management should have done what they implied they were doing and put funds aside to cover the secured Note.....to not do so even after the auditor's warnings is surely negligent.
It is not as though we have had a mining disaster that has brought the company to the edge...it is because the board ignored the warnings of the auditor. You should cover your SECURED debts before capital expenses.

Also when I invested in the company there was an independent Chairman and we had 3 directors, totally different management. It was only after the current Chairman made himself CEO that the position of Chairman became NOT independent. The current major shareholder was not involved nor the current board or CEO and you are correct there....... in hindsight I should have got out after last year's capital raising when the board showed its true colours

Also this board seems to be doing nothing about replacing the independent director...Obviously no one would join a board such as this with a 5 for 2 non renounceable rights issue being forced on shareholders..

You are also saying that " Blind Freddy could see that this has been on a knife edge since inception" however Twiggy invested $2.5m with a conversion price of 3.5 cents, 3 years ago. But of course there was a different management in those days and so maybe Twiggy had more confidence in the company in those days.

Also if you look at the video that is on the website, Dale Rodgers certainly did not think so in February and would probably disagree with you also on that point unless of course he wasn't being honest with his shareholders at that time and then you would be right on that point